Brokerages Expect Heritage Commerce Corp. (HTBK) Will Post Earnings of $0.19 Per Share
Brokerages predict that Heritage Commerce Corp. (NASDAQ:HTBK) will announce earnings of $0.19 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Heritage Commerce Corp.’s earnings. The lowest EPS estimate is $0.18 and the highest is $0.19. Heritage Commerce Corp. posted earnings per share of $0.16 in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.8%. The company is scheduled to report its next quarterly earnings results on Thursday, April 27th.
On average, analysts expect that Heritage Commerce Corp. will report full-year earnings of $0.81 per share for the current year, with EPS estimates ranging from $0.78 to $0.85. For the next fiscal year, analysts forecast that the business will report earnings of $0.92 per share, with EPS estimates ranging from $0.87 to $0.97. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Heritage Commerce Corp..
Heritage Commerce Corp. (NASDAQ:HTBK) last issued its quarterly earnings results on Thursday, January 26th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.19. The firm had revenue of $26.16 million for the quarter, compared to analyst estimates of $26.35 million. Heritage Commerce Corp. had a return on equity of 11.23% and a net margin of 25.82%.
HTBK has been the subject of several analyst reports. Brean Capital set a $16.00 price objective on Heritage Commerce Corp. and gave the company a “buy” rating in a research note on Friday, January 27th. Zacks Investment Research upgraded Heritage Commerce Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, December 28th. Finally, Keefe, Bruyette & Woods cut Heritage Commerce Corp. from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $14.00 to $15.00 in a report on Monday, January 30th.
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Shares of Heritage Commerce Corp. (NASDAQ:HTBK) traded up 1.32% during mid-day trading on Thursday, hitting $13.77. The stock had a trading volume of 83,121 shares. Heritage Commerce Corp. has a 52-week low of $9.85 and a 52-week high of $14.70. The stock has a 50 day moving average price of $13.84 and a 200-day moving average price of $13.12. The company has a market cap of $522.49 million, a PE ratio of 19.12 and a beta of 0.71.
In other Heritage Commerce Corp. news, CEO Walter Theodore Kaczmarek sold 14,000 shares of the stock in a transaction on Monday, March 13th. The stock was sold at an average price of $14.00, for a total transaction of $196,000.00. Following the sale, the chief executive officer now owns 83,019 shares in the company, valued at approximately $1,162,266. The sale was disclosed in a legal filing with the SEC, which is available through this link. 19.72% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of HTBK. Patriot Financial Partners GP LP raised its stake in Heritage Commerce Corp. by 70.8% in the third quarter. Patriot Financial Partners GP LP now owns 4,433,502 shares of the financial services provider’s stock valued at $48,503,000 after buying an additional 1,838,502 shares during the period. Dimensional Fund Advisors LP raised its stake in Heritage Commerce Corp. by 22.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,337,366 shares of the financial services provider’s stock valued at $19,298,000 after buying an additional 247,458 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Heritage Commerce Corp. during the third quarter valued at approximately $12,295,000. Westwood Holdings Group Inc. raised its stake in Heritage Commerce Corp. by 46.7% in the fourth quarter. Westwood Holdings Group Inc. now owns 738,698 shares of the financial services provider’s stock valued at $10,660,000 after buying an additional 235,104 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Heritage Commerce Corp. by 131.2% in the fourth quarter. Renaissance Technologies LLC now owns 681,000 shares of the financial services provider’s stock valued at $9,827,000 after buying an additional 386,400 shares during the period. 58.42% of the stock is currently owned by institutional investors.
About Heritage Commerce Corp.
Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.
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